Ofori-Sasu, D.Agbloyor, E.K.Kuttu, S.Abor, J.Y.2024-05-242024-05-242022DOI: 10.1177/09726527221086492http://ugspace.ug.edu.gh:8080/handle/123456789/41958Research ArticleThis article empirically examines the impact of the business cycle on the relationship between individual central bank policies and market power. We present a representative sample of 52 African economies over the period 2006–2018. We find that monetary, macro-prudential and central bank independence policies increase market power. The study found that, in the long run, market power reacts positively to changes or adjustments made to a central bank policy framework. We show that the individual central bank’s policy framework increases market power. when interacted with business cycleenCentral bank policiesbusiness cyclemarket powerArticle